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India set to become eighth largest shareholder in IMF

India is ready to become the 8th largest shareholder in the IMF after quota reforms which are expected to be finalized at the agency’s annual meeting at Tokyo in October 2012. Once the quota reforms are put through, India’s share at IMF will elevate to 2.75% from 2.44%. Presently India is at 11th position India ..

India’s commitment prompts BRICS to aid Euro zone

India’s promise to inject $10 billion into the International Monetary Fund (IMF) triggered other BRICS member nations to pledge various amounts for bailing out Euro zone.  At the G-20 meet, albeit Chinese President Hu Jintao had already spoken before Prime Minister Manmohan Singh, it was only after Singh concluded his speech, Jintao again stood up ..

India need not transfer $10 bn into IMF right away

India may not be required to infuse $10 billion (Rs 55,000 crore) it promised at the G20 to the International Monetary Fund (IMF) for bailing out debt-trapped Euro zone if the global economic situation gets better The amount to be transferred will be completely liquid and will remain part of our reserves as the IMF ..

IMF lowers India’s growth forecast to 6.9% for 2012

­­The IMF (International Monetary Fund) lowered India’s growth forecast to 6.9% for this year. The lowered growth outlook in 2012 owes much to a slowdown of investment which partly reflects structural factors IMF called for renewed efforts to revive the flagging structural reform agenda. It also pointed out that domestic factors too have played a ..

5th IBSA summit, Pretoria and Tshwane Declaration

The President of the Republic of South Africa Jacob Zuma, the Prime Minister of the Republic of India Dr. Manmohan Singh, and the President of the Federative Republic of Brazil, Ms. Dilma Rousseff met at the Presidential Guest House, Pretoria, Republic of South Africa, on 18 October 2011 for the 5th Summit of Heads of ..

IMF: India’s growth Forecast: 7.8%

The International Monetary Fund (IMF) and trimmed its forecasts of economic growth for India, China and other Asian developing economies due partly to slower growth in the rest of the world. The IMF forecast India’s economy to grow 7.8% in 2011 and 7.5% in 2012, down from its June forecasts of 8.2% and 7.8%, respectively. ..